SAN FRANCISCO (MarketWatch) — Shares of Yahoo Inc. and Intel Corp. swung to a loss, after both traded with healthy gains at first, in the extended session Tuesday as investors pored over earnings reports from both companies.
Yahoo (YHOO) shares traded erratically, at one point up as much as 5% and at another point slipping to a slight loss. Most recently, they were down 0.3% at $33.25 on heavy volume.
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The Web portal reported adjusted earnings of 34 cents a share on revenue of $1.08 billion. Analysts surveyed by FactSet expected earnings of 33 cents a share on revenue of $1.08 billion. Also, Yahoo said it entered an agreement with Alibaba Group Holding Ltd. to reduce the maximum number of shares it has to sell if Alibaba files for an initial public offering. Follow Yahoo's earnings call on our Earnings Wall.
Intel Corp. (INTC) shares, which had been up nearly 3% after the earnings report first came out, fell 0.8% to $23.20 in recent heavy trading after the chip maker topped Wall Street estimates on flat earnings for the third quarter. Intel's forecast likely weighed on the stock after hours, implying slim, if any, growth in the December quarter.
CSX Corp. (CSX) shares rose 1.1% to $26.39 on moderate volume after the railroad operator reported third-quarter earnings of 46 cents a share on revenue of $3 billion. Analysts expected 42 cents a share on revenue of $2.95 billion.
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